Stripe is a technology company. Its software allows individuals and businesses to receive payments over the Internet. Stripe provides the technical, fraud prevention, and banking infrastructure required to operate on-line payment systems.
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History
Irish entrepreneurs John and Patrick Collison founded Stripe in 2010. In June 2010, Stripe received seed funding from Y Combinator, a start-up accelerator. In May 2011, Stripe received a $2 million investment from venture capitalists Peter Thiel, Sequoia Capital, and Andreessen Horowitz. In February 2012, Stripe received an $18 million Series A investment led by Sequoia Capital at a $100 million valuation. Stripe launched publicly in September 2011 after an extensive private beta. Less than a year after its public launch, Stripe received a $20 million Series B investment. In March 2013, Stripe acquired chat and task-management application Kick-off.
As of April 2018, Stripe was valued at over $9 billion when it last raised money, a $150 million round in 2016.
Product and service development
Payment logistics
Stripe provides APIs that web developers can use to integrate payment processing into their websites and mobile applications. In April 2018, the company released anti-fraud tools that run alongside payments APIs to block fraudulent transactions.
The company expanded its services to include a billing product for online businesses. The new service operates within the Stripe platform, allowing businesses to manage subscription recurring revenue and invoicing.
Atlas
On February 24, 2016 the company launched the Atlas platform that allows startups to incorporate more easily in the U.S. The platform originally launched as invite-only. In March 2016, Cuba was added to the list of countries covered under the program. Atlas was relaunched with improvements the following year. As of April 2017, Atlas had signed more than 200 international startups.
On April 30, 2018 the company announced an expansion to Atlas. The upgrades to Atlas included the ability to be used to set up Delaware-based limited liability companies.
Maps Stripe (company)
Reception
In 2016, Stripe was ranked number four on the Forbes magazine Cloud 100, a list of companies that engage in cloud computing. In 2017, Stripe was ranked number one on the Forbes Cloud 100.
Flora Coleman, Head of Government Relations of the money transfer service TransferWise, London, stated "Stripe are one of the most organic, most ethical, second wave fintech startups and what they are doing is simply incredible."
See also
- Electronic commerce
- List of online payment service providers
- Payment gateway
- Payment service provider
- Subscription business model
References
External links
- Official website
Source of article : Wikipedia
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